Ep. 134 Jason Ellison and Josh Diggs: Solving Tenant Issues – Commercial Evictions to Residential Fair Housing

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The relationship between a landlord and a tenant is unique, to say the least. Whether you invest in residential or commercial real estate, you must maintain a balanced relationship with your tenants.

If you do own tenant-occupied properties, you know that maintaining a balanced relationship is easier said than done at times. When dealing with tenants, there are defined rules and regulations for what you can and cannot do as a landlord; However when it comes to peoples’ homes or businesses, disagreements over a lease can quickly become a tricky situation. ¬†Solving tenant issues can be one of the most important things a landlord can do to retain tenants and stay out of legal hot water.

This live discussion and recording is about solving these common tenant issues. We discussed the landlord/tenant relationship, as well as covering common pitfalls relating to things like evictions and fair housing. One our guests deals in commercial real estate litigation. The other is an owner of multi-family properties.

They are as follows:

commercial lease disputesJason Ellison is an attorney and founding partner of Ellison | Lazenby Law Firm. Jason is a real estate attorney and specializes in contract preparation and dispute resolution. He is highly experienced in landlord/tenant disputes, including evictions.

 

 

dealing with tenantsJosh Diggs is a veteran investor and co-founder/owner of Palm Companies. He is well versed in tenant/landlord relationships and will provide on-the-ground insight into property management issues.Through their property management arm, Palm Communities, Josh has on-the-ground experience managing multifamily properties and dealing with tenants.

 

Check out “Ep. 134: Dealing with Tenants – From Evictions to Fair Housing”!

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Ep. 94 Shawn Yesner: 10 Important Items You Will Want to Know About Commercial Deals and Contracts

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commercial real estate deals and contractsCommercial real estate investing is not the same thing as residential real estate investing. Just because both property types have four walls and a roof does not mean they have the same investment strategy. Commercial deals and contracts are subject to different regulations than residential properties. Residential real estate investors looking to invest in commercial real estate should be aware of the different facets of commercial deals and contracts.

Shawn Yesner, of Yesner Law Firm of Tampa, specializes in real estate law. After getting his start in real estate law representing lenders, Shawn began his own law firm in 2004 representing homeowners. Shawn has since expanded his firm to encompass all aspects of real estate law, representing property owners in a variety of legal processes. Shawn discusses some important points for investors to consider when completing commercial deals and contracts.

  • Contracts
    • Residential real estate uses one contract template – FARBAR (FL Assos. of Realtors + FL Bar Assos.)
    • Attorneys specialized in commercial real estate should draft commercial contracts
    • Only clauses that meet buyer/seller agreement should be introduced
  • Tenant Leases
    • Make sure tenants are current on lease payments
    • Track lease deposits
    • Keep leasing contracts in same format
  • Tax-Deferred Opportunities (1031 Exchange)¬†
    • Strict timelines and regulations to be aware of
    • Seek assistance from CPA or certified agent
    • Be able to prove constructive receipt of funds; don’t get stuck with tax liability
  • “As Is” Contracts
    • Seller should always disclose state of property
    • in FL, Johnson v Davis sets “as is” precedence: Seller must disclose anything material to purchase of property and/or anything that might not be found after a reasonable inspection
  • Assignments
    • Buyers may choose to assign ownership of property to LLC or other business name
    • Contracts should hold original buyers liable
  • Buy/Sell Authority
    • FL recently changed LLC laws
    • Sellers should be aware of who holds legal authority to make buying or selling descisions
    • Title companies can do bulk of research on this
  • Incomplete Agreements
    • A detailed contract should outline purchase agreements
    • Sellers should not leave any gray areas to argue incomplete agreements
  • Zoning
    • Make sure you know your property’s zoning authorizations
    • Zoning can be changed, but make sure your property can accommodate changes
  • Environmental Issues
    • May pose big concern for environmental properties
    • Owners may be responsible for environmental factors that occurred prior to purchase
    • Buyers should complete phase I assessments of properties for any red flags during due diligence process

To contact Shawn for any real estate law needs, visit his website!

Shawn also hosts a podcast covering many legal topics in real estate investing and ownership. Check out Yesner Law Podcast on iTunes, Stitcher or your favorite major podcast platform!

Ep. 54 Rob Gidel – Tips on How to Help Prevent an Attorney from Killing Your Real Estate Deal

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651Enlisting the counsel of an attorney is a necessary part of any real estate deal. Whether for general investment oversight or to oversee specific terms of the deal, an understanding of the integral legal stipulations is essential to any real estate deal. An attorney’s involvement has a tremendous influence on the outcome of any real estate deal. Often, the counsel provided by attorneys has the power to sway a deal towards a negative or positive outcome for all parties involved. An overly aggressive attorney or one not specialized in real estate law has the potential to ruin good deals. For novice and beginner investors especially, it can be intimidating to negotiate with attorneys in a real estate deal. Investors and attorneys need to enter into a real estate deal with an open, cooperative attitude to ensure a successful transaction for all parties.

Robert Gidel, Jr. is a real estate attorney with just this mindset. He believes that an attorney should serve as an adviser to their client and not commandeer the transaction. Robert knows that communication is the key to a successful real estate transaction. This episode, Robert shares tips to help investors, sellers, brokers and attorneys get the best out of a real estate deal.

  • Effective Communication
    • Prevents extraneous fees, missed deadlines, cancelled deals
    • All parties should remain open and up-front
  • Possible Risk vs. Plausible Risk
    • Attorneys often draft generic risk-assessments on properties. Investors should know how to identify plausible problems apart from possible problems
    • Have real estate brokers involved in risk-assessment discussions
    • Allow attorney to understand specific intentions for investment
  • Attorneys in Negotiations
    • Several approaches: collaborative, adversarial and competitive
    • Collaborative is most effective in terms of cost and time
    • Attorneys should approach negotiations from a holistic perspective; they should represent their client but understand other party’s perspective
  • Extent of Attorney Engagement
    • Always outline attorney’s involvement with deal explicitly with Engagement Letters
  • Tips
    • Always retain attorneys specialized in certain aspects of real estate transactions. Ill-prepared or under-certified attorneys may delay or prevent deals
    • Clients should have attorneys provide up-front estimates for fees based off past experiences

To find out more about Robert and the services his firm, Gardner Brewer Martinez-Monfort offers, visit the company website